by Davie Mach | May 23, 2019 | Contractor Handbook, BAS, Tax Returns & Financial Statements, BAS, Tax Returns & Financial Statements, Small Business Handbook, Tax Planning, Tax Planning
Many people hear about tax deductions but don’t precisely understand how tax deductions work in Australia. So the obvious question is, how do tax deductions work? In a nutshell, tax deductions can assist with increasing your tax refund. As a business owner, you...
by Davie Mach | Mar 22, 2019 | Employers, Accounting & Tax, BAS, Tax Returns & Financial Statements, BAS, Tax Returns & Financial Statements, Contractor Handbook, Guides, Small Business Handbook, Small Businesses, Tax Planning, Tax Planning, Tax Tips
One of the most common questions concerning tax minimisation I get asked from small business owners and contractors: whether I think they are paying too much tax when they report their quarterly business activity statements (BAS) to the ATO. There are generally three...
by Davie Mach | Jan 1, 2019 | Contractor Handbook, Tax Planning
Figuring out your contractor business tax deductions and what expenses can be claimed on your business can cause incredible confusion with all of the different rules that apply to different types of expenses. Expenses for a contractor business can be claimed against...
by Davie Mach | Nov 29, 2018 | Contractor Handbook, Accounting & Tax, BAS, Tax Returns & Financial Statements, BAS, Tax Returns & Financial Statements, Cashflow & Budgeting, Small Business Handbook, Tax Planning, Tax Planning, Tax Tips
Organising ATO payment arrangements can help with dealing with tax debts that can be stressful, especially with those unpaid monthly and quarterly amounts incrementally building very quickly. Many small and medium-sized business owners in Australia have a lot...
by Davie Mach | Oct 29, 2018 | All, Accounting, Accounting, Accounting & Tax, Contractor Handbook, Guides, Small Business Handbook, Startup, Tax Planning, Tax Planning
Taking money out of a limited company for personal use Many contractors choose to operate out of a Pty Ltd company as it is the most suitable structure for them. A Pty Ltd Company is a separate legal entity and thus, all the money and assets belong to the...
by Davie Mach | Dec 12, 2016 | Contractor Handbook, Small Business Handbook, Tax Planning, Tax Planning, Tax Tips
Buying a car through a company under general circumstances would afford you the benefit of a healthy claim on GST credit. However, not all situations are created equally and you must factor in a number of different situational factors before determining whether you to...